EnergyPre-market
Oil marketing companies to see 50% profit surge
pre-market1 source ↓written by the desknot a recommendation
- in operating profits
- 50% rise
- this fiscal year
- $18-20 per barrel
- last year
- $12
- to soften
- $65-67 per barrel
- refining margins
- $4-6 per barrel
Oil marketing companies are projected to experience a 50% rise in operating profits, reaching $18-20 per barrel this fiscal year, up from $12 last year. This increase is driven by stronger marketing margins due to stable retail fuel prices and favorable crude oil dynamics.
The anticipated boost in marketing margins is expected to support capital expenditure plans, enhancing credit metrics for these companies. Analysts forecast crude prices to soften to $65-67 per barrel, with gross refining margins at $4-6 per barrel.
Not investment advice. For informational purposes only.